In my recent conversation with Homa Lezgee of Press TV/Iran and ex-U. S. Ambassador to Saudi Arabia, Richard Murphy, I emphasize the significance of the August 15, 1971 decision of Richard Nixon and Henry Kissinger to end the Bretton Woods agreement linking the American dollar to the price of gold, replacing this arrangement with the American accord with the Kingdom of Saudi Arabia linking the dollar to all international oil transactions globally. This Faustian bargain has preserved the status of the American dollar as the reserve currency of the world, even as the Federal Reserve Board continues to print fiat money and the American government continues to borrow money from foreign banks.

The Petrodollar and the Zionist State of Israel drive American foreign policy in the Middle East—into the proverbial drink. . . .